Which of the following is TRUE OF BABS? Interest received from BABs is taxable on the state and federal level. Interest received from BABs may or may not be taxable to bondholders, depending on the investor's tax bracket, Interest received from BABs is taxable on the federal level only Interest received from BABS is taxable on the state level only QUESTION 6 Mr. and Mrs. Smith opened a joint account several years ago as aTWROS. Mr. Smith was involved in a severe car accident and didn'tsurvive. Upon receiving confirmation of Mr. Smithy's death, what must bedone with the account? o The entire account is transferred to Mrs. Smith Mr. Smith's portion of the account is transferred to his estate The account is divided up depending on the percentage invested O None of the provided answers are correct